4 Tips for Marketing to Millennials
Effective strategies for marketing to Millennials have perplexed the advertising industry for over a decade. As social media increased in popularity and traditional media consumption continued to decline, organizational leaders sought new and innovative ways to connect with the populous generation we now refer to as “Millennials.” What worked in advertising way back in 1990 simply doesn’t fly in the wake of America’s largest generation to date. Millennials’ unique approaches to business models, consumer behavior, and technology have presented a grab bag of challenges and opportunities to organizations operating in a variety of industries.
Meet the Millennials
Born between 1980 and 1996, Millennials are approximately 25-41 years old. Other names for Millennials include Generation Y and Echo Boomers. The Millennial generation is currently larger than Baby Boomers - the massive generational cohort that held the title of “the largest generation” in American history for several decades. Interestingly, the Millennial population in the United States is projected to continue to grow due to immigration.
Millennials have been influenced by corporate scandals, the fall of the Berlin Wall, the Great Recession, the Gulf War broadcasted on TV, the internet explosion, September 9/11, social media, Global War on Terrorism, and Y2K. These notable events are recognized as contributing to the unique values system Millennials often display as a generational cohort. Characteristics such as self-expression, high levels of skepticism, economic conservatism, and an openness to technology adaptation are often associated with Millennials.
Millennials are recognized as the most educated generation in American history. In addition, many marketing professionals associate values such as authenticity, diversity, and independence with Millennials, as such priorities are often observed as influencing their purchasing decisions. Millennials were previously hailed as the most ethnically and racially diverse generation in American history; however, Generation Z is quickly outpacing Millennials on this front.
4 Tips for Marketing to Millennials
Millennials are often high-priority targets for marketers, as they currently hold the lion’s share of annual buying power, along with outnumbering other generations. However, one key difference in marketing to Millennials versus Gen Xers and Baby Boomers is that Millennials are the least brand loyal of these generations. Such consumer behavior can be a challenge when marketing to this demographic; thus, organizations interested in connecting with Millennial consumers should prioritize a generationally informed marketing strategy that addresses the concerns and needs of today’s Millennial consumers.
Here are four tips for marketing to Millennials:
Millennials are digital window shoppers.
An organization’s online spaces are often the first thing a Millennial consumer will see when encountering the brand. Millennials extensively research businesses and organizations online before they connect with them in person or place an order. Reviewing a brand’s digital presence, including websites and social media channels, often constitutes the Millennial version of “window shopping.” Thus, organizations interested in connecting with Millennials should prioritize their online presence and work to ensure they maintain a presence on the social media apps that Millennials prioritize, such as Instagram and Snapchat. Almost 100% of Millennials in the United States are active online. Companies should strive to meet Millennials where they are, and right now, that’s online.
Millennials care what other Millennials think about an organization.
Peer reviews, influencer strategies, and digital word of mouth are all very effective ways to increase brand awareness among Millennials. This generation cares about what other Millennials think about an organization and prefers to patronize brands that their peers have previously vetted. Millennials trust user-generated content over brand communications and marketing. Thanks to influencer marketing, organizations can leverage the power of Millenials-focused network marketing to spread the word about their offerings.
Millennials prioritize brand authenticity over traditional advertisements.
Millennials don’t respond well to intrusive, commercial marketing tactics. According to CrowdTap, only 1% of Millennials surveyed say a compelling advertisement convinces them to trust a brand or organization. While information-based, outbound marketing tactics may be successful in advertising to older generations, Millennials support brands that have demonstrated they are a reliable source that can be trusted. Building relationships with Millennial consumers takes time and strategy, but the results are well worth the effort.
Millennials place value on values.
Millennials like to support a cause in pretty much everything they do. Shopping isn’t just shopping to Millenials - it can be an opportunity to influence the world for good through their patronage. In addition, corporate responsibility is an expectation for the Millennial consumer. This double-bottom-line mentality can present a wealth of opportunities to organizations that have a social responsibility element to their operation. Consider positioning your brand as an instrument of change that’s dedicated to making the world a better place. Organizations that want to connect with Millennials should emphasize their values in ad campaigns - an example is demonstrating the company’s commitment to diversity, environmental, and sustainability practices.
Learn more about effective generational marketing strategies:
If your organization is looking for a creative partner to provide marketing and PR services, Becker Digital is always ready to help. Our team of experienced professionals is available for projects large and small. We work to customize our services to the client’s needs. Contact us to schedule a complimentary call and learn more about how digital strategy can enhance your organization’s mission.